April 17, 2025

Introduction

Gold Price Predictor

An interactive Shiny application that forecasts the average annual gold price (USD / oz) using a simple linear regression on historical GLD ETF data.

Key features:
- Input any year from 2000 up to current
- Get an immediate predicted price
- Explore an interactive Plotly chart of past data and your prediction

Problem Statement

Gold prices are highly volatile from year to year, making it hard for investors and analysts to:

  • Plan budgets when input costs depend on gold
  • Manage risk in gold‐backed portfolios
  • Forecast returns in commodities markets

Problem Statement (Cont.)

Below is the recent short‐term trend, illustrating the day‑to‑day swings in the GLD ETF:

Our Solution

  • User Input: Select any year from 2000 up to today via a simple numeric control.
  • Model Logic: A linear regression trained on historical GLD ETF annual averages.
  • Reactive Prediction: The server instantly computes the forecasted gold price for your chosen year.
  • Interactive Display: An embedded Plotly chart shows the full history and highlights your predicted point.

Live Demo

Use the slider (or input box) below to select any year. The app will instantly predict the average gold price for that year and highlight it on the chart.

Next Steps

  • Explore non-linear models (polynomial regression, ARIMA)
  • Incorporate macroeconomic indicators (inflation, interest rates)
  • Gather user feedback and refine the app